How to Overcome Your Fears in Trading?
Trading works with profit and loss both, and when we intervene in the natural law of probabilities, we end up losing by trying to minimize giving back the profit attained.
Having a clear trading plan makes us refrain from taking rash on-the-spot decisions based out of fear.
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This is on the higher side, with only about 20 per cent traders being consistently in the black.
This low rate of success in trading is due to many factors, knowing about which can help a trader avoid certain pitfalls.
Anything of value in life requires mental and physical efforts and involves time, energy, and resources.
Just like becoming a highly-paid doctor earning a six-figure income requires years of hard work, becoming a highly successful trader needs a decent capital, emotional strength and years of toiling.
Too much knowledge, analysis and theory can have an adverse effect, instilling doubt and uncertainty in every decision taken.
A more effective way is to pick a few trading tools that suit you and leave the rest.